How do you read a candle? The top or bottom of the candle body will indicate the open price, depending on whether the asset moves higher or lower during the selected timeframe. If the price trends up, the candlestick is often either green or white and the open price is at the bottom. viceversa if price trends down. Why Candlestick is important? They indicate...
This is an example of the Bullish Flag Formation of ITC. (Spotted by Naman)
This is a step by step procedure of one of my trading strategies.. I really hope it helps you out.. Peace
What is Megaphone Pattern? Megaphone pattern is a pattern which consists of minimum two higher highs and two lower lows. The pattern is generally formed when the market is highly volatile in nature and traders are not confident about the market direction. Normally this pattern is visible when the market is at its top or bottom. The greater the time frame is...
Etheruum is on the move of price reversal. It has already made a high of $1439 and the projected between 1.13 to 1.618 Fibonacci level of XA. Now this pattern is creating a typical Harmonic Shark Pattern. Which is a bullish reversal in deep. We can expect a PRZ between $640 to $ 607. SO there might be the downfall of around $1200 estimated but this is the most...
✨SCALPING TRADER :> The main advantage of scalping is the ability to gain profit from small price changes within the shortest time frame possible, which is often amplified by a larger position size. This is an intra-day type of trading which means that positions are closed before the end of the trading day or session ✨DAY TRADER :> A day trader buys and...
** The shooting star candlesticks pattern, also known as the Pinbar (or bearish pinbar/inverted Hammer) by some, is one of the most popular candlestick patterns among price action traders. It was the first candlestick signal that I relied on, and one that I still use today, although I trade it much differently than most other price action traders. # What...
* A double top is a strong bearish reversal pattern. It occurs when an uptrend fails to make a higher high and instead, makes an equal (or near equal) high. * The psychology behind the pattern is that the failure to make a higher high could be an early sign that the momentum is leaving the uptrend. The equal high is an indication that the previous high is being...
📚 LEARN MORE 💰 EARN MORE With ForecastCity What is a Range-Bound Market? A range-bound market is one in which price bounces between a specific high price and a low price. The high price acts as a major resistance level in which price can’t seem to breakthrough. Likewise, the low price acts as a major support level in which price can’t seem to...
📚 LEARN MORE 💰 EARN MORE With ForecastCity Inverted Head and Shoulders Definition: A head and shoulders pattern is also a trend reversal formation. It is formed by a Valley (left shoulder), followed by a Lower Valley (head), and then another Higher Valley (right shoulder). A “ Neckline ” is drawn by connecting the highest points of the two Peaks....
disclairmer - only personal view
We can use 200EMA line as a major support or resistance. 200EMA level is most reliable for your trading decision.
Nifty Made a three black crows pattern/ pattern activated after today low break. 1) What is Three Black Crows Pattern ?? Three Black Crows got its name from its resemblance to three crows looking down from their perch in a tree. This signal, occurring after a strong uptrend, indicates the crows looking down or lower prices are to come....
Archive of Discussion - Now, Our core assumption is - It will eventually give a breakout (or, breakdown) and will continue the trend. So, in short, Flag Pattern is a trend continuation pattern that allows you to catch a trend in the middle! If We revisit the recent amazing Uptrend of Wipro, You can see there are three clear Flag Formations in the W...
Trying to understand charts, does my way of understanding the charts is correct? seems here it is going to breakdown ascending trend channel
My personal experience on Swing trade Why i choosen swing trade.. How Long i am in trading business reason to post this video for trading knowledge Complete Mind game